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News & Notes

3 Reasons You Should Hire an Agent to Sell Your Home

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The rate of For Sale By Owner (FSBO) homes has been decreasing steadily for the last decade. In 2014, FSBOs accounted for just 9% of home sales.

Why do 92% of home sellers use an agent to sell their home? 
Today’s buyers are web-savvy, and expect homes to be marketed on national home search sites that FSBO sellers often forget about. Agents can also help with negotiation and to streamline the closing paperwork. Plus, sellers who use an agent usually make more on their home sale, even after paying an agent’s commission.

But don’t take my word for it — there are plenty of stats showing that hiring an agent is the smart choice. Check out these facts about hiring an agent vs. selling your home FSBO.

Price.
Last year, the typical for sale by owner (FSBO) home sold for $208,700, while homes sold by agents went for an average of $235,000. Nearly half of FSBO sellers choose that route because they want to avoid paying an agent’s commission fee. But in reality, we see that sellers using an agent net more on the sale than FSBO sellers — even after the commission is paid. 15% of FSBO sellers say that getting the right price for their home is the most difficult part of the sale.

Marketing and Exposure.
More than 92% of home buyers search online for homes, and they agree that the most stressful part of the buying process is finding the right property. When an agent lists your home on the MLS, it will appear on the popular home search sites. Buyers can also check out property details like beds, baths, and square footage, and view high-quality photographs showcasing your home’s best features. Meanwhile, less than 20% of last year’s FSBO sellers posted their homes on local or national search sites, or on online classified sites. The most commonly used marketing tool by FSBO sellers is a yard sign.

Paperwork and Negotiation.
No one likes red tape. Understanding and performing paperwork is a most difficult task for many FSBO sellers. Agents manage buyer and seller transactions each day. You shouldn’t be expected to know everything, but agents have the expertise needed to get you the most for your home.

When you hire an agent, you get:
• The bare minimum of paper work, and knowledge that will make you confident when you head to the closing table.
• Visibility on home search sites and other online marketing channels.
• The right listing price, and a built-in negotiator to make sure you get nothing less.

 

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